#BankofCanada #Canadianmortgagerates #canadianrealestate
Canada’s fixed mortgage rates are on the rise following the Bank of Canada’s announcement that it could be cutting rates in June. With yields on government bonds surging on hot inflation coming out of the United States, investors are wary of locking into diminishing real returns.
Links:
Bank of Canada holds key rate, but signals June cut in ‘realm of possibilities’:
https://globalnews.ca/news/10413855/bank-of-canada-interest-rate-april-2024/
June rate cut ‘within the realm of possibilities,’ says Macklem, as Bank of Canada holds rate at 5%:
Canada 5 Year Bond:
https://www.cnbc.com/quotes/CA5Y-CA
Stubbornly high US inflation grew stronger than expected in March:
https://www.cnn.com/2024/04/10/economy/cpi-consumer-price-index-inflation-march/index.html
Weak Demand for $39 Billion Auction Sends 10-Year Treasury Yields Near 4.6%:
How will the Bank of Canada’s rate hold impact the housing market?:
What the global bond sell-off means for Canadians:
https://www.bnnbloomberg.ca/what-the-global-bond-sell-off-means-for-canadians-1.1981369
U.S. inflation higher than expected, giving Fed more cause to pause:
https://financialpost.com/news/economy/us-inflation-higher-than-expected
Inflation Picks Up to 3.2%, Slightly Hotter Than Expected:
https://www.wsj.com/economy/inflation-february-cpi-report-interest-rate-b827c0e7
Prices rose more than expected in January as inflation won’t go away:
March CPI Report: Core Inflation Up 3.8% Year-Over-Year:
https://www.wsj.com/livecoverage/cpi-report-today-inflation-stock-market-04-10-2024/card/march-cpi-report-key-forecasts-from-economists-y3hVml8y6yv6BdjeypT8
Inflation shockwave: Stocks plunge, bond yields soar as super core CPI surges:
U.S. 10 Year Treasury Note:
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
Inflation comes in hotter than expected in March:
https://finance.yahoo.com/news/inflation-comes-in-hotter-than-expected-in-march-123324666.html
Stock Market Today: Stocks tumble on hot inflation, slumping 10-year Treasury auction demand:
Six-Month Federal Budget Deficit: $1.1 Trillion:
China cuts holdings of US Treasury debt in January, ending 2-month rise:
https://www.globaltimes.cn/page/202403/1309211.shtml
US faces Liz Truss-style market shock as debt soars, warns watchdog:
https://www.ft.com/content/c43cf841-174a-457f-92de-be2c44dbb440
Federal government current expenditures: Interest payments:
https://fred.stlouisfed.org/series/A091RC1Q027SBEA
US wholesale inflation heated up again last month:
https://www.cnn.com/2024/04/11/economy/ppi-us-inflation-march/index.html
Mark Mitchell – Mortgage Broker London Ontario
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